Another family business that changed hands in the state. after purchase Jury Coffee By the pending closure operation involving the transfer of Pascual Group and Suavinex to the multinational Peek a Boo, now the manufacturer of Agost roof tiles Escandella the truth is that It has completed its sale to the French group Edilians.
As confirmed by the CEO of the company, alfred vincent, Owners of the Augustan firm, roman brothers, they are already a agreement in principle with the Gallic holding that will now be Waiting for necessary permits from the National Competition Commission, due to the effects the operation may have on the market. Above all, because the Edilians already own one of La Escandella’s main rivals, Valencian Tejas Borja.
Of course, for now, the CNMC council is already allowed the sale in the first stageby decision published on 14 September, as recorded on the supervisory body’s website.
According to Vincent, the decision to sell is first and foremost made before the sale. lack of generational change, As the current owners were approaching retirement age and none of their descendants wanted to take control of the business, they decided to seek a new shareholder to ensure the continuity of the business.
According to the CEO, this is Edilian’s intention protect both the brand and existing facilities There will be new investment plans that the firm has in Agost to actually increase its production capacity. The French company will also keep the staff responsible for piloting the company in recent years.
La Escandella, going through tough times with the bursting of the real estate bubble and the crippling of construction, was forced to claim the residence. bankruptcy in 2009. However, the company managed to reach a refinancing deal with the bank and definitively left bankruptcy in 2019, ten years later.
The company has succeeded first year of the pandemic and saw a significant increase in turnover and profit last year, thanks to the resurgence of the real estate sector and the boom in housing reforms. Thus, the turnover according to the accounts deposited in the Trade Registry, 2021 almost happened 47.5 million euro, 35.7% more more than in the previous exercise. Moreover, it did so with a result of 4.4 million compared to the 1.4 it achieved in 2020.
Of course, the company could not get rid of the problems caused by the increase in raw material prices and, above all, the increase in production costs. rising energy prices and especially gas. In this way, since the beginning of September, the company has chosen to paralyze three of its four furnaces, considering that continuing production at these facilities will cause losses, and plans to extend this measure until October. According to its CEO.